My guess is it will all be gone soon.

You got to know when to hold em...

Right on Mando!! Happy trapping! ScottW

Im.glad shes got something to show for it anyways.

She can always pick and sell Ramps!

A vehicle is not an investment, it's a necessity. (For most people anyway.) Buying one outright makes way more sense than financing it.

A vechile is a useful tool , how else are you going to get to work and make money ?

How is buying it outright a bad investment?? I wish I could buy this way...

My guess is....
She will be in debt more then she won soon.
She feels empowered now. It a vicious cycle.

The majority of the time, you can get an auto loan rate below 7% APR. As long as that's the case, you're better off financing and investing the rest into stocks, or ETFs where the average return is 7%.

That's not how it works in a high inflation environment.

If inflation 7% and you make 7% on your investments that year you broke even.

If you borrow money at 7% and pay it back with money that's losing 7% of its value you go in a big hole in a hurry

Pay as much down as you can and borrow as little as necessary,and pay it off as quickly as possible.
If you have to borrow,get loan insurance also and use it to your advantage to pay off the loan at an accellerated pace when you need to use it.

Save a couple bucks to pay the earned income tax’s on it 😡

Good advice!

Taxes, depending on her other income could be as much as 33%. Lay back 25% at least.

They know and are prepared for taxes.

I feel it's better they bought the vehicle outright.

They could have financed it but they have paid 2 or 3 thousand more for the car by the time it was paid off.

Thwy didn't have dependable.transportation..now they do.

I'm worried about her gambling more now but all I can do is advise her and hope she listens.

Save the receipts for her losings so she can offset her winnings. Less taxes.

Buying outright is dependant on what interest you'd pay on the loan vs what interest you could get by investing.

We bought 2 vehicles on credit when they offered 0% interest. Since then I haven't watched what interest they want on vehicles so you'd have to compare lovally.

You gotta read the fine print when they tell you zero percent.
There is a fairly hefty fee called "the cost of borrowing at 0%,lol.

Not only that, but no discounts. Its not rocket science if you do a little homework.